Dec 2 (Reuters) - Canadian buyout firm Onex Corp is
in talks to buy a UK safety and survival equipment maker from
Warburg Pincus LLC for about 450 million pounds ($704
million), Bloomberg reported, citing three people with knowledge
of the discussions.

The two private equity firms are negotiating a price for
Survitec Group Ltd and a deal is expected before the end of the
month, Bloomberg reported. (bloom.bg/1zMvE48)

Private equity firms were preparing to submit final bids for
Survitec, Thomson Reuters Loan Pricing Corp reported early last
month.

Survitec provides survival products from life jackets to
anti-gravity suits to the marine, aviation and defense
industries among others.

Warburg Pincus declined to comment. Onex and Survitec were
not available for comment.

Warburg Pincus bought from Survitec from private equity
group Montagu in 2010 for 280 million pounds and has been
looking to sell the company for 500 million pounds, Reuters
reported earlier this year.

The Bloomberg report comes about a fortnight after Onex said
it would buy Swiss packaging group SIG Combibloc Group AG
for up to 3.57 billion euros.
($1 = 0.6398 pounds)
(Reporting By Shubhankar Chakravorty in Bengaluru; Editing by
Savio D'Souza)